MiCAR

Under MiCAR, it will be practically impossible for crypto service providers from the USA, Switzerland or other third countries to serve European customers without a MiCAR license on the grounds of passive freedom to provide services. What exceptions will remain?

Under the regime of the new MiCAR, crypto advice will be subject to authorization. However, this includes not only advice on transactions with crypto assets, but also advice on the use of crypto services. What are the implications for referrers?

MiCAR will to full extent enter into effect at the end of this year. Then, also the provisions on crypto asset whitepapers of MiCAR will become applicable. But what consequences will then have the publication of an incorrect whitepaper?

At the beginning of April 2024, the Federal Ministry of Finance published two new regulations for consultation, the MiCAR-TransitV and the MiCAR-AntragsV, which are intended to regulate the transition to the MiCAR-regime for CASPs. as of when can applications be submitted to BaFin?

The issuance and public offering of E-Money Tokens will soon only be possible in compliance with MiCAR regulations. What do issuers of E-Money Tokens then have to consider?

On December 30 of this year, MiCAR comes into force in its entirety and with it the regulations on crypto asset whitepapers. Under what circumstances may the operators of trading platforms be obliged to produce such a MiCAR whitepaper?

From June 30, 2024, the public offering of stable coins in the EU will be strictly regulated. What requirements does MiCAR actually place on issuers and providers of ART?

Numerous crypto asset service providers from the USA, Asia, Switzerland and the UK are interested in expanding into the EU in order to benefit from the regulatory opportunities offered by MiCAR. What options do they have to approach the move to Europe from a regulatory perspective?

MiCAR will set different requirements for crypto asset service providers when applying for a license. Companies that are already supervised will benefit from simplified procedures.

The regulations on Asset-Referenced Tokens of MiCAR will be applicable in less than six months’ time. By then at the latest, there must be clarity as to which tokens should fall under the regulations. It is still unclear when exactly a token is aimed at value stability.

The legislator intends to introduce cryptographic instruments and qualified crypto custody at a national level. What is the meaning of these terms and what are the legislator’s objectives with these proposals?

The Federal Ministry of Finance has drafted a legislation to regulate the transition of crypto asset service providers from national KWG regulation to the MiCAR regime. What should regulated German crypto asset service providers be prepared for?